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Actionable news in THC: TENET HEALTHCARE CORPORATION NEW,

Entry into a Material Definitive Agreement

On December4, 2015 (the Closing Date), Tenet Healthcare Corporation, a Nevada corporation (Tenet) entered into an Amendment No.3 (the Amendment) to its existing $1 billion Amended and Restated Credit Agreement dated as of October19, 2010 (as amended, restated, supplemented or otherwise modified from time to time prior to the Closing Date, the Existing Credit Agreement; the Existing Credit Agreement, as amended by the Amendment, the New Credit Agreement), by and among Tenet, as the borrower, the lenders and issuers party thereto and Citicorp USA, Inc., as administrative agent.

The Amendment has an effective date of December4, 2015 and amends certain provisions under the Existing Credit Agreement to, among other things, (i)extend the scheduled maturity date of the Facility (as defined below), (ii)reduce the applicable margin payable with respect to outstanding loans under the Facility, (iii)reduce the applicable commitment fee payable with respect to undrawn portions of the commitments under the Facility and (iv)remove certain restrictions with respect to the borrowing base eligibility of certain accounts receivable.

The New Credit Agreement provides for revolving loans in an aggregate principal amount of up to $1 billion, subject to borrowing availability (the Facility), with a $300 million sub-facility for letters of credit. Tenets borrowing availability is calculated by reference to a borrowing base which is determined by specified percentages of eligible accounts receivable.

Tenets obligations under the New Credit Agreement are guaranteed by substantially all of the domestic wholly-owned hospital subsidiaries of Tenet (the Subsidiary Guarantors). Tenets and the Subsidiary Guarantors...


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